Signet Jewelers barely squeezed into the National Retail Federation’s 2020 Top 100 Retailers List, making it the only exclusive jewellery retailer to rank among the largest American companies according to sales.
The National Retail Federation’s annual report on the nation’s Top 100 Retailers is based on sales for the most recently completed fiscal year. Based on its 2019 retail sales of $6.05 billion, Signet ranked 98 in 2020’s rundown.
Signet’s position in the NRF’s Top 100 Retailers List has steadily declined from 75 in 2017 with sales of $5.49 billion, to rank 81 in 2018 (with $5.28 billion in sales), and then to 85 in 2019 (with sales of $5.1 billion).
According to the NRF report released on 1st July, e-commerce will be a major component of the post-coronavirus recovery, with the next few months being “a potential watershed moment,” said David Silverman, a retail analyst at Fitch. He pointed out that, other than Amazon and Wayfair, most of the top e-commerce retailers “are not digitally native.”
The NRF report pointed out that Walmart may be an exception and could come out of the Covid-19 crisis with an enhanced reputation, with its variety of store formats and a robust digital commerce business already in place prior to the pandemic.
Credit: Sterling Jewelers / Newscast